KASE published on its Internet resource review of PMI of Kazakhstan's manufacturing industries for November from Freedom Holding Corp.

03.12.24 16:33
/KASE, December 3, 2024/ – Freedom Holding Corp. has provided Kazakhstan Stock Exchange (KASE) with a review of the Purchasing Managers' Index (PMI) of manufacturing in Kazakhstan for November 2024. Below are comments from Yerlan Abdikarimov, Director of the Financial Analysis Department of Freedom Finance Global PLC (a 100% subsidiary of Freedom Holding Corp.). – On the index of manufacturing industries in Kazakhstan: ""Kazakhstan's manufacturing industry is showing stability, with growth potential remaining in the coming months. Demand, albeit at a slower pace, continues to grow: production and new orders have been in the optimistic zone for eight months in a row. At the same time, October was marked by both one of the strongest slowdowns in production growth this year and a sharp increase in the number of new jobs. We associate the latter with improved short-term expectations amid the signing of new contracts. Among the restraining factors is the extension of delivery times. The weakening of inflationary pressures, although generally a positive factor, nevertheless limits the growth of sales prices and slows down the growth of revenue". "In November, business conditions and new orders in the manufacturing industry of Kazakhstan reached record levels, surpassing the figures for August this year. Among support factors was strong customer demand – the balance of finished goods and work in progress was decreasing. As a result, we are seeing one of the highest rates of growth in production capacity, accompanied by active procurement and staff expansion. However, the situation is clouded by ongoing logistical problems, rising costs of raw materials and supplies, and a significant depreciation of the national currency. The combination of all these factors is likely to have caused resources to be transferred directly to production, with stocks reduced. Despite the contradictory situation, the industry remains optimistic and predicts production growth next year, although expectations have decreased slightly compared to October". The review is published on KASE's Internet resource: - https://kase.kz/files/presentations/kz/KZ_Manufacturing_KAZ_2411_PR.pdf – in Qazaq; - https://kase.kz/files/presentations/ru/KZ_Manufacturing_RUS_2411_PR.pdf – in Russian; - https://kase.kz/files/presentations/en/KZ_Manufacturing_ENG_2411_PR.pdf – in English. [2024-12-03]